Kalamazoo, Michigan, offers a unique opportunity for investors to capitalize on the city's diverse economy and growing population of approximately 70,000 residents. Office properties in Kalamazoo are a sound investment, providing a stable source of income and potential for long-term appreciation. With a mix of established companies and startups, Kalamazoo's office market caters to various industries, including healthcare, education, and manufacturing. The city's infrastructure, including the Kalamazoo/Battle Creek International Airport and Amtrak rail service, makes it an attractive location for businesses. Additionally, Kalamazoo's scenic location on the Kalamazoo River and its proximity to Western Michigan University and Kalamazoo College make it an ideal spot for companies seeking a talented workforce. The city's amenities, such as the Kalamazoo Institute of Arts and the Kalamazoo Valley Museum, also contribute to its appeal. With its rich history, cultural attractions, and natural beauty, Kalamazoo is an excellent choice for businesses and investors alike.
Currently, there are 16 office properties for sale in Kalamazoo, offering a range of options for investors. The average price per square foot is $96 USD, with an average size of 84,236 square feet. The largest property available is 426,788 square feet. In addition to office properties, Kalamazoo also offers commercial real estate, with opportunities for retail and industrial development. Apartment buildings are another option, with many complexes located near the city's universities and downtown area. Shopping centers, such as the Kalamazoo Mall, provide a hub for retail activity. Hotels, like the Radisson Plaza Hotel, cater to the city's growing tourism industry. With its diverse economy and range of property types, Kalamazoo is an attractive location for investors seeking a stable and profitable market.
What is the average price per square foot for office properties in Kalamazoo?
The average price per square foot for office properties in Kalamazoo is $96 USD per square foot, with 16 available listings ranging in size from 84,236 square feet to 426,788 square feet, and an average cap rate of 7.56%.
What should I know about office property classifications (Class A, B, C)?
When searching for office properties for sale in Kalamazoo, it's essential to understand the classification system, which categorizes properties based on their quality, amenities, and location, to make an informed investment decision.
- Class A office properties are typically high-rise buildings with premium finishes, advanced technology, and prime locations, often attracting high-end tenants and commanding higher rental rates.
- Class B office properties offer a balance between quality and affordability, providing functional spaces with standard amenities, suitable for a wide range of businesses and professionals.
- Class C office properties are often older, less renovated buildings with more basic amenities, typically appealing to startups, small businesses, or those on a tighter budget.
